Creating Your Financial Wellness Stimulus Plan
by Susan Tate

I believe this time of economic change will ultimately result in a redirection of the way we use and share our personal and natural resources. We have an opportunity to harness our collective passion so each of us can do the work we love, discover healthier and smarter energy sources and find ways to share with those who are truly in need. We can set the intention and take appropriate action steps to support our families, the global community and ourselves in the highest and best ways. It’s a good time to ask, “What did I come to earth to do?”

Stimulus is defined as “a thing that arouses activity or energy in someone or something.” So, get charged up and get the energy zapping out of you in a powerful, positive way. Get out of the “poor me” (been there) and put on your “YES WE CAN” attitude! What we focus on expands, so choose your thoughts with care.

Here are ten steps designed to stimulate and uplift your financial wellness plan:

1. The first step in creating a financial wellness stimulus plan is to write on a piece of paper, “I’m in! I am mindfully developing a sound plan for my money!”

2. Then take a deep breath and gather some facts. List how much you have in your checking and savings accounts. Take another deep breath, attempt to take out all emotions and write down your retirement account balances. Speaking of breath, here is a powerful breathing method that can redirect your stressful thinking into a more relaxed state: Stop now and take a deep, full breath through your nose and hold it four seconds. Then gently and slowly exhale twice as long as your inhale. Repeat when necessary and observe the calming shift.

3. Do you have credit card debt? If you do, take a ledger sheet and write the account name, amount owed and the amount of finance charge for each account. Arrange this list from the highest APR to the lowest. (APR stands for annual percentage rate—the finance charge expressed as an annual rate, it’s listed on your bill.) Pay off the highest rate first, while making timely payments on the others. Create a monthly plan and set payoff dates—even if the dates are far away. If you are unable to make these payments, call each company and make a plan to pay what you can. Consider saving all your change and use it to pay down credit card debt.

4. Write down everything you spend in one month. Save every receipt from today through the next 30 days and include cash items with no receipt (tips, pitching in on parking or lunch expenses.) Be meticulous. Knowing this number is actually empowering and most people (like me years ago) do everything to pretend they don’t need to really know it. KNOW IT! This number is vital to your financial wellness stimulus plan! Keeping your head in the sand just gets your skin dry and your eyes itchy!

5. Write down all income sources and say “thank you” for every single dollar on that list. If you have lost your job or your hours have been cut, write down anything that comes your way—concentrate on what you HAVE rather than the lack. And keep saying “thank you” to God or whatever you call the Divine.

6. Consider diversifying your income sources and developing a stream of passive/residual income. This has resulted in a positive shift for me in the past two years and is the way I am replacing the recent hit to my retirement fund. (See www.conscioushealthconsciouswealth.com to learn more.)

7. Take all of this information and write down three action steps that can move you toward more financial abundance and stability.

8. If you have more than enough, consider sharing. Food banks would love your support, charities are open to your checks and family members in need might appreciate a gift card good to their local grocery store.

9. Observe your spending. Do you really, really NEED what you are about to buy? Put the money you were thinking of spending on that unnecessary item in your emergency fund. (Okay, I’m still working on an emergency fund as part of the plan, but if you can pull it off, go for it!)

Focus on what you want and what you have. It’s an easy time to get caught up in lack and worry. Remember, worrying is like praying for something you don’t want. Believe, or borrow my belief, that you are always being cared for and you will get through to the other side.